How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask WALLSTREETESQ Your Own Question
WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17223
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
16356563
Type Your Bankruptcy Law Question Here...
WALLSTREETESQ is online now
A new question is answered every 9 seconds

Do both Chapter 7 and Chapter 13 bankruptcy proceedings stop

Resolved Question:

Do both Chapter 7 and Chapter 13 bankruptcy proceedings stop foreclosures and repossessions and does the sheer act of retaining an attorney for this also stop these actions?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 5 years ago.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarification

WALLSTREETESQ :

Only the actual filing in Court of a chapter 7 or chapter 13 case, stops pending legal action, through the Federal automatic stay, that is issued after a bankruptcy is filed with the Court,

WALLSTREETESQ :

The retention on an attorney does not stop legal action,

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask

WALLSTREETESQ :

If satisfied please press the accept button so we can receive credit

Customer: replied 5 years ago.

If I file Chapter 7 to discharge my debt, will I be able to keep my house, i.e., how do banks handle the missed payments? Or do I have to file Chapter 13?

Expert:  WALLSTREETESQ replied 5 years ago.

if you file a chapter 7 you can only keep your home, if you are current on your payments, if you are behind in payments a chapter 13 would be better, so you can

pay the arrears owed over 60 months,

 

WALLSTREETESQ and 2 other Bankruptcy Law Specialists are ready to help you